Minimum Information on the face of Statement of Profit and Loss
- On the face of statement of profit and loss, 'revenue from operations' and 'other income' are to be presented; besides, 'expenses' are to be presented as under :
- Cost of materials consumed
- Purchases of stock-in-trade
- Changes in inventories of finished goods, work-in-progress and stock-in-trade
- Employee benefits expenses
- Finance costs
- Depreciation and amortisation expenses
- Other expenses
- Total expenses
- Separate line items on the face of statement of profit and loss are required to present :
- Profit before exceptional and extraordinary items and tax
- Exceptional items
- Profit before extraordinary items and tax
- Extraordinary items
- Profit before tax
- Tax expense :
- Current tax
- Deferred tax
- If there is a discontinuing operation, further separate line items are required to be presented on the face of the Statement as follows :
- Profit/(loss) for the period from continuing operations
- Profit/(loss) from discontinuing operations
- Tax expense of discounting operations
- Profit/(loss) from discontinuing operations (after tax)
- Finally the profit (loss) for the period and basic as well as diluted EPS have to be shown on the face of the statement of profit and loss.
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